Startup India Standup India Scheme 2016 / Latest Policy Points Updates declared by PM Narednra Modi

Startup India campaign is based on an action plan aimed at promoting bank financing for start-up ventures to boost entrepreneurship and encourage start ups with jobs creation. The campaign was first announced by the Prime Minister in his 15th August, address from the Red Fort. It was organized by Department of Industrial Policy and Promotion (DIPP).

The startup ecosystem in India is about to be shaken up soon, as Prime Minister Narendra Modi will unveil the Startup Action Plan on Saturday, at an invite only launch event of Startup India, Standup India. The event was taken place on Saturday at Vigyan Bhawan, New Delhi on 16 January, 2016.

What is Startup India, Standup India?

It is organized by Department of Industrial Policy and Promotion (DIPP), along with other key Indian startup ecosystem players, the Startup India, Standup India initiative aims to celebrate the country's entrepreneurial spirit, and create a strong ecosystem for fostering innovation and startups in India. Here's what we know about the event so far.

Start-Up India Action Plan:

1) No Capital Gains Tax on Personal Property Sold To Invest In Startups

2) No Income Tax on Profits to Startups for First 3Years

3) Self-Certification Compliance for Startups

4) No Inspections for First 3 Years of a Startup

5) Startup Hub Will Be a Single Point Source for Information & Mentoring

6) Simplifying Patent Regime & IPR

7) 80% Rebate on Filing a Patent Application

8) Mobile Oriented Application Form for Startups

9) Exit Policy to Be Introduced For Startups

10) Brought Bankruptcy Bill, 2015 in Parliament to Help Startups Exit In 90 Days

11) Dedicated Fund Worth '10,000 Cr Will Be Set Up For Startups

12) Credit Guarantee Scheme for Loans

13) Will Bring In New Policies to Help Women Entrepreneurs

14) Will Bring In Sector-Specific Incubators;

15) 5 New Bio Clusters Will Be Set Up To Help Biotech Sector